- There is a bubble in articles about China’s bubbles: Asset Bubbles Threaten China’s Economy (WSJ)
- Hillary Clinton’s Wall Street Fundraising Benefited From Loophole In Federal Anti-Corruption Rule (IBT)
- Clinton and Trump Prepare for Possibility of Election Overtime (BBG)
- Trump Leads Clinton by 1 Point in New Poll as Enthusiasm Declines (ABC)
- Investigating Donald Trump, F.B.I. Sees No Clear Link to Russia (NYT)
- Democrats Say Pledge of Speedy Email Review Falls Short (WSJ)
- In Ohio, a spelling error could cost you your vote (Reuters)
- Donald Trump Used Legally Dubious Method to Avoid Paying Taxes (NYT)
- Trump Amps Up Criticism of Clinton Amid Probe (WSJ)
- Why Bank Stocks Have The Most to Lose in the U.S. Election (BBG)
- Election Offers Stark Choices on Supreme Court’s Future (WSJ)
- Oil prices rise from one-month lows after OPEC approves strategy (Reuters)
- Three of Fed’s Own Primary Dealers Warn Hikes on Hold Until 2017 (BBG)
- Standard Chartered Shares Fall After Profit Misses Estimates (BBG)
- Bank of Japan Trims Inflation Forecasts (WSJ)
- Russia says resumption of Syria peace talks delayed indefinitely (Reuters)
- Turkish military chief heads to Russia for talks (Anadaolu)
- Turkey pushed into coup process in planned way: opposition leader (Reuters)
- Germany Cools to Chinese Investors After Record Year for Takeovers (WSJ)
- Investors Set to Parse Fed Statement for Clues on Possible Rate Rise (WSJ)
- Netflix, Amazon Take Divergent Paths to Reach Indian Audience (WSJ)
- In rare move, China criticizes Trump plan to exit climate change pact (Reuters)
- Goldman Sachs Said Outsourcing Dark Pool Operation to Nasdaq (BBG)
- Turkey could draft ‘limited measure’ on death penalty, PM says (Reuters)
- Ford Reaches Tentative Deal With Canadian Auto Workers’ Union (WSJ)
Overnight Media Digest
WSJ
– The contrasting approaches in India highlight fundamental differences in how the streaming giants – Netflix and Amazon – are pursuing international growth, as the U.S. market gradually matures. http://on.wsj.com/2fz2qpC
– Jeff Immelt, the chairman and chief executive of General Electric, said the purchase of Baker Hughes would help the industrial giant bulk up and weather a prolonged slump in the energy industry. http://on.wsj.com/2fz0rBL
– The Justice Department said in a letter to lawmakers Monday it would work with the FBI to resolve the Clinton email investigation as soon as possible, but the message appeared unlikely to tamp down the emotions surrounding the issue. http://on.wsj.com/2fyX7Gy
– Easy credit and fiscal stimulus are inflating prices and volatility across Chinese financial markets. Some Chinese leaders worry the investing binge has gone too far, producing hazardous economic side effects. http://on.wsj.com/2fz4AFU
– CenturyLink Inc. on Monday said it reached a cash-and-stock deal to buy Level 3 Communications Inc for roughly $25 billion, a marriage that would give the communications companies more heft to weather a competitive landscape. http://on.wsj.com/2fz1eTb
– Many companies doing business in the European Union could face big changes as the EU moves ahead with an effort to keep multinationals such as Apple Inc. from taking advantage of discrepancies in tax codes across the 28-nation bloc. http://on.wsj.com/2fz5LVu
– The Bank of Japan revised down its inflation forecasts Tuesday following a raft of poor data, but held off expanding stimulus in a sign that Gov. Haruhiko Kuroda has set the bar much higher for taking action. http://on.wsj.com/2fz1xxr
– Alibaba affiliate Ant Financial is forging partnerships in the U.S., Europe and Asia, building a global network of merchants that accept its payment-services mobile app. http://on.wsj.com/2fz1B09
– Colonial Pipeline Co shut down a major gasoline and diesel artery that runs through Shelby County, Ala. after a fire injured several workers in the area. http://on.wsj.com/2fz31ri
– Data-mining software firm Palantir Technologies Inc. prevailed in a lawsuit against the U.S. Army that means the company could be eligible for a $200 million contract. http://on.wsj.com/2fz2F3P
FT
Tesco Plc is facing a 100 million pound civil lawsuit brought by more than 125 institutional funds over alleged breaches of the Financial Services and Markets Act in relation to its overstatement of earnings.
HSBC holdings Plc has approached Clara Furse, a member of Bank of England’s Financial Policy Committee to chair the company’s UK business.
General Electric Co said it would merge its oil and gas division with Baker Hughes Inc and pay $7.4 billion to take a controlling stake in the enlarged company.
Bank of England Governor Mark Carney will extend his period in the job to June 2019, declining to serve a full eight-year term.
NYT
– Tech billionaire Peter Thiel, addressing journalists in Washington, denounced Donald Trump’s comments about women, and took aim at Silicon Valley, adding that he is voting for Trump due to the failure of the country’s leadership. http://nyti.ms/2f6z3bf
– The FBI began loading a trove of emails belonging to a top aide to Hillary Clinton into a special computer program that would allow bureau analysts to determine whether they contain classified information, law enforcement officials said. http://nyti.ms/2estfHL
– CNN has severed ties with Democratic strategist Donna Brazile, after hacked emails from WikiLeaks showed that she shared questions for CNN-sponsored candidate events in advance with friends on Hillary Clinton’s campaign. http://nyti.ms/2dX0vL1
– Viacom Inc on Monday named Robert Bakish its acting chief executive, effective November 15. Bakish, who started at Viacom in 1987, most recently served as chief executive of the company’s international unit. http://nyti.ms/2dWYlLr
– Bank of England Governor Mark Carney said on Monday that he would serve an additional year as head of the central bank and step down in June 2019. http://nyti.ms/2f7tSIs
– The $25 billion deal between CenturyLink Inc and Level 3 Communications Inc would make the combined company the second-largest provider of communications to business in the United States, after AT&T Inc. http://nyti.ms/2f3AyJq
Canada
THE GLOBE AND MAIL
** Ford Motor Co and the union representing its workers in Canada reached a last-minute agreement on a new contract, averting a strike. The automaker agreed to terms of a contract that Unifor signed earlier after negotiations with General Motors Co and Fiat Chrysler Automobiles NV . http://bit.ly/2f8c4fE
** Enbridge Inc remains committed to completing its purchase of a major stake in the Dakota Access pipeline, despite the high-profile confrontation between native American protesters and a would-be partner that is now building the $3.7-billion project, executives from the company’s U.S. subsidiary said on Monday. http://bit.ly/2f55XeM
** Struggling Second Cup Ltd has formed a special committee to review its strategic options – a move that can lead to the sale of a company – while acknowledging the café chain won’t be able to meet its three-year business goals. http://bit.ly/2ePE7Ct
NATIONAL POST
** Ontario universities face several financial pressures, among them pension solvency deficits, according to a new commentary by debt rating service DBRS Ltd. http://bit.ly/2f5ao99
** BlackBerry Ltd signed a deal with Ford Motor Co to expand the use of its QNX and security software in Ford’s vehicles, marking the first time the smartphone-turned-software company will work directly with an auto manufacturer instead of relying on a middleman. http://bit.ly/2fq0KiO
** Suncor Energy Inc is planning to sell all or parts of its Ontario wind power business following the C$1.13-billion ($844.23 million) divestiture of its lubricants business Monday. Suncor confirmed it planned to sell all or parts of its wind power assets in Ontario, but planned to hold onto its wind generating capacity in Alberta and Saskatchewan. http://bit.ly/2eicvpa
Britain
The Times
The Bank of England will concede this week that it was wrong to predict an immediate slowdown after the Brexit vote when it raises its growth forecasts for this year and next, but it will warn that the squeeze on households is set to intensify. http://bit.ly/2f6BwCl
TJX UK, which consists of TK Maxx, HomeSense and tkmaxx.com, lifted pre-tax profits by 11.2 percent to 142.3 million pounds in the year to January 30, on turnover up 10.9 percent to 2.4 billion pounds. http://bit.ly/2f6EzKV
The Guardian
Rolls-Royce Plc, Britain’s leading manufacturing multinational, hired a network of agents to help it land lucrative contracts in at least 12 different countries around the world, sometimes allegedly using bribes. http://bit.ly/2f6Dlzh
Mark Carney has ended weeks of speculation about his future by agreeing to stay on as governor of the Bank of England until Brexit negotiations with the EU have ended in 2019. http://bit.ly/2f6AshL
The Telegraph
Advertising giant WPP Plc has warned that the first signs of “Brexit uncertainties” are beginning to show as it reported slowing growth in the UK market. http://bit.ly/2f6Envh
The mining and metals industry has a “bright future”, the boss of Anglo American Plc has said, as the sector weighs up the future of China, the biggest consumer of raw materials. http://bit.ly/2f6DC5a
Sky News
Barclays Plc customers who were charged twice on their debit card payments have been refunded and the glitch to the system has been fixed, the bank said. http://bit.ly/2f6AnLi
HSBC Holdings Plc is turning to a former boss of the London Stock Exchange (LSE) to oversee the ring-fenced UK retail bank being created under far-reaching regulatory reforms to be introduced in 2019. http://bit.ly/2f6EIOy
The Independent
Tesco Plc is being sued for more than 100 million pounds by investors who say they lost money after the company inflated its profits by 326 million pounds in 2014. http://ind.pn/2f6InM3
Majestic Wine Plc’s decision to offer next day delivery and drop the six-bottle minimum online purchase had its fans talking about popping corks and raising glasses. http://ind.pn/2f6IQ13
via http://ift.tt/2eQ13Sg Tyler Durden